Ad-hoc release: Nordex is profitable at operating level in 3rd quarter- Order receipts up 60% / 51% upswing in EBIT before exceptionals

Hamburg, November 29, 2005. Following the completion of its recapitalization activities, the Nordex Group (ISIN: DE000A0D6554) recorded order receipts of EUR 280 million, an increase of 60% over the previous year (EUR 175 million). In the third quarter alone, new business doubled. As of September 30, 2005, order books had risen in value by 88% to EUR 261 million (previous year: EUR 139 million).

Heightened demand was already reflected in an increase in business volumes. Sales in the current year have risen by 13 percent to EUR 175.2 million (previous year: EUR 154.9 million). As of September 30, 2005, total revenues climbed by 21 % to EUR 187.6 million (previous year: EUR 155.4 million).

Thanks to greater capacity utilization, the loss at the EBIT level before exceptionals contracted by 51 % to EUR 9.1 million (previous year: loss of EUR 18.5 million). In the third quarter Nordex posted an operating profit (before exceptionals) of EUR 0.1 million for the first time again (previous year: loss of EUR 6.2 million). The net loss for the current fiscal contracted by 40 % to EUR 14.6 million (previous year: EUR 24.4 million) and came to only EUR 0.6 million (previous year: EUR 9.6 million) in the third quarter.

The Group’s financial condition has been strengthened decisively this fiscal year following the successful completion of the recapitalization activities. As a result, the equity ratio rose to around 27 % as of September 30, 2005 (December 31, 2004: 1.3 %). At the same time, Nordex has lowered its bank liabilities from EUR 37.6 million to EUR 3.7 million. Cash and cash equivalents widened from EUR 9.4 million to EUR 14.0 million.

Given the strong demand, Nordex has lifted its order receipt forecast for fiscal 2005 from EUR 300 million to over EUR 350 million (previous year: EUR 237 million). Otherwise, it is still on track to meeting its full-year targets. Nordex projects a business volume of a total of around EUR 280 million for fiscal 2005 (previous year: EUR 214 million) and an operating loss before exceptionals of around EUR 2 million.

Spurred by consistently high capacity utilization, the Company expects to achieve net profit for 2006. As it has reserved the necessary volumes with its suppliers at an early stage, deliveries of the necessary core components have for the most part been secured for 2006. With order receipts budgeted at a figure of at least EUR 450 million, management projects business volumes of over EUR 400 million and an EBIT margin of 2.5 %. The margin is to be widened on a sustained basis by 2008 via a cost-cutting program commenced in the spring. Roughly 15 % of the planned activities have already been implemented.

Download Nordex-Notes 3rd quarter:

https://www.iwrpressedienst.de/nordex/nordex_notes_adhoc_Q3_2005.pdf



For more information, please contact:

Nordex AG
Investor Relations
Ralf Peters
Telephone: +49 40 500 98 - 100, Telefax: – 333
E-Mail: rpeters@nordex-online.com">rpeters@nordex-online.com
Internet: http://www.nordex-online.com

Sprache:

Online-Pressemappe - alle Pressemitteilungen der Nordex AG | RSS-Feed abonnieren

---

Pressebilder nur für die redaktionelle Verwendung
Hinweis: Für den Inhalt der Pressemitteilung ist der Emittent / Herausgeber der Meldung »Nordex AG« verantwortlich.